Xact Kapitalforvaltning AB Boosts Holdings in Oracle Corporation (ORCL)
Xact Kapitalforvaltning AB raised its holdings in shares of Oracle Corporation (NYSE:ORCL) by 6.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 588,348 shares of the enterprise software provider’s stock after purchasing an additional 37,707 shares during the period. Oracle accounts for about 0.9% of Xact Kapitalforvaltning AB’s portfolio, making the stock its 24th largest position. Xact Kapitalforvaltning AB’s holdings in Oracle were worth $28,447,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC grew its position in shares of Oracle by 947.4% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,990 shares of the enterprise software provider’s stock worth $100,000 after buying an additional 1,800 shares during the last quarter. Burt Wealth Advisors grew its position in shares of Oracle by 4.3% in the 2nd quarter. Burt Wealth Advisors now owns 2,151 shares of the enterprise software provider’s stock worth $107,000 after buying an additional 88 shares during the last quarter. TrimTabs Asset Management LLC grew its position in shares of Oracle by 88.8% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,687 shares of the enterprise software provider’s stock worth $120,000 after buying an additional 1,264 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Oracle in the 2nd quarter worth approximately $129,000. Finally, Heritage Trust Co purchased a new position in shares of Oracle in the 1st quarter worth approximately $130,000. 57.40% of the stock is currently owned by institutional investors and hedge funds.
ORCL has been the subject of a number of recent analyst reports. Moffett Nathanson initiated coverage on shares of Oracle in a research note on Wednesday, September 6th. They issued a “buy” rating and a $65.00 target price for the company. Vetr upgraded shares of Oracle from a “strong sell” rating to a “sell” rating and set a $46.58 target price for the company in a research note on Monday, September 18th. BidaskClub cut shares of Oracle from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Credit Suisse Group reiterated an “overweight” rating and issued a $62.00 target price on shares of Oracle in a research note on Monday, September 18th. Finally, Canaccord Genuity lowered their target price on shares of Oracle from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have issued a buy rating to the stock. Oracle currently has an average rating of “Buy” and a consensus price target of $55.26.
Shares of Oracle Corporation (NYSE:ORCL) opened at $47.36 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 5.04 and a current ratio of 5.07. The company has a market cap of $195,720.38, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. Oracle Corporation has a 12 month low of $38.30 and a 12 month high of $53.14.
Oracle (NYSE:ORCL) last posted its earnings results on Thursday, December 14th. The enterprise software provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $9.63 billion during the quarter, compared to analyst estimates of $9.57 billion. Oracle had a net margin of 25.48% and a return on equity of 20.49%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. equities research analysts predict that Oracle Corporation will post 2.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, January 9th. Oracle’s dividend payout ratio (DPR) is 32.62%.
Oracle announced that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, Director Hector Garcia-Molina sold 3,750 shares of the business’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $48.70, for a total value of $182,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dorian Daley sold 23,297 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.00, for a total transaction of $1,141,553.00. Following the completion of the sale, the executive vice president now directly owns 54,274 shares of the company’s stock, valued at approximately $2,659,426. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,750 shares of company stock valued at $13,459,738. Insiders own 29.00% of the company’s stock.
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Oracle Corporation (Oracle) provides products and services that address all aspects of corporate information technology (IT) environments, including application, platform and infrastructure. The Company’s businesses include cloud and on-premise software, hardware and services. Its cloud and on-premise software business consists of three segments, including cloud software and on-premise software, which includes Software as a Service (SaaS) and Platform as a Service (PaaS) offerings, cloud infrastructure as a service (IaaS) and software license updates and product support.
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